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Toys 252018The annual report on the worlds most valuable toys brandsFebruary 2018Brand Finance Toys 25 February 2018 3.Foreword.What is the purpose of a strong brand: to attract customers, to build loyalty, to motivate staff? All true, but for a commercial brand at least, the first answer must always be to make money. Huge investments are made in the design, launch, and ongoing promotion of brands. Given their potential financial value, this makes sense. Unfortunately, most organisations fail to go beyond that, missing huge opportunities to effectively make use of what are often their most important assets. Monitoring of brand performance should be the next step, but is often sporadic. Where it does take place, it frequently lacks financial rigour and is heavily reliant on qualitative measures, poorly understood by non-marketers. As a result, marketing teams struggle to communicate the value of their work and boards then underestimate the significance of their brands to the business. Sceptical finance teams, unconvinced by what they perceive as marketing mumbo jumbo, may fail to agree necessary investments. What marketing spend there is, can end up poorly directed as marketers are left to operate with insufficient financial guidance or accountability. The end result can be a slow but steady downward spiral of poor communication, wasted resources, and a negative impact on the bottom line. Brand Finance bridges the gap between marketing and finance. Our teams have experience across a wide range of disciplines from market research and visual identity to tax and accounting. We understand the importance of design, advertising, and marketing, but we also believe that the ultimate and overriding purpose of brands is to make money. That is why we connect brands to the bottom line. By valuing brands, we provide a mutually intelligible language for marketing and finance teams. Marketers then have the ability to communicate the significance of what they do, and boards can use the information to chart a course that maximises profits. Without knowing the precise, financial value of an asset, how can you know if you are maximising your returns? If you are intending to license a brand, how can you know you are getting a fair price? If you are intending to sell, how do you know what the right time is? How do you decide which brands to discontinue, whether to rebrand and how to arrange your brand architecture? Brand Finance has conducted thousands of brand and branded business valuations to help answer these questions. Brand Finances research revealed the compelling link between strong brands and stock market performance. It was found that investing in highly-branded companies would lead to a return almost double that of the average for the S&P 500 as a whole. Acknowledging and managing a companys intangible assets taps into the hidden value that lies within it. The following report is a first step to understanding more about brands, how to value them and how to use that information to benefit the business. The team and I look forward to continuing the conversation with you.David Haigh CEO, Brand FinanceBrand Finance Toys 25 February 2018 5.Brand Finance Toys 25 February 2018 4.Foreword 3About Brand Finance 4Contact Details 4Definitions 6Executive Summary 8Full Table 11Methodology 14Understand Your Brands Value 15Consulting Services 16Communications Services 17Contents.About Brand Finance.Brand Finance is the worlds leading independent brand valuation and strategy consultancy. Brand Finance was set up in 1996 with the aim of bridging the gap between marketing and finance. For more than 20 years, we have helped companies and organisations of all types to connect their brands to the bottom line.We pride ourselves on four key strengths: Independence Technical Credibility Transparency Expertise.Brand Finance puts thousands of the worlds biggestbrands to the test every year, evaluating which are the strongest and most valuable.For more information, please visit our website:brandfinanceContact Details.For business enquiries, please contact:Richard HaighManaging Director rd.haighbrandfinanceFor media enquiries, please contact:Konrad JagodzinskiCommunications Director k.jagodzinskibrandfinanceFor all other enquiries, please contact:enquiriesbrandfinance+44 (0)207 389 9400linkedin/company/ brand-financefacebook/brandfinancetwitter/brandfinanceFor further information on Brand Finances services and valuation experience, please contact your local representative:Country Contact Email addressAsia Pacific Samir Dixit s.dixitbrandfinance +65 906 98 651 Australia Mark Crowe m.crowebrandfinance +61 282 498 320Brazil Geoffrey Hamilton-Jones g.hamilton-jonesbrandfinance +55 1196 499 9963Canada Bill Ratcliffe b.ratcliffebrandfinance +1 647 3437 266Caribbean Nigel Cooper n.cooperbrandfinance +1 876 8256 598China Scott Chen s.chenbrandfinance +86 1860 118 8821East Africa Jawad Jaffer j.jafferbrandfinance +254 204 440 053France Victoire Ruault v.ruaultbrandfinance +44 0207 389 9427Germany Holger Mhlbauer h.muehlbauerbrandfinance +49 1515 474 9834India Ajimon Francis a.francisbrandfinance +91 989 2085 951Indonesia Jimmy Halim j.halimbrandfinance +62 215 3678 064Ireland Simon Haigh s.haighbrandfinance +353 087 6695 881Italy Massimo Pizzo m.pizzobrandfinance +39 0230 312 5105Mexico & LatAm Laurence Newell l.newellbrandfinance +52 1559 197 1925Middle East Andrew Campbell a.campbellbrandfinance +971 508 113 341Nigeria Babatunde Odumeru t.odumerubrandfinance +234 012 911 988Romania Mihai Bogdan m.bogdanbrandfinance +40 728 702 705Spain Teresa de Lemus t.delemusbrandfinance +34 654 481 043 South Africa Jeremy Sampson j.sampsonbrandfinance +27 828 857 300Sri Lanka Ruchi Gunewardene r.gunewardenebrandfinance +94 114 941 670Turkey Muhterem Ilgner m.ilgunerbrandfinance +90 216 3526 729UK Richard Haigh rd.haighbrandfinance +44 0207 389 9400USA Amy Rand a.randbrandfinance +44 0207 389 9432Vietnam Lai Tien Manh m.laibrandfinance +84 473 004 468Brand Finance Toys 25 February 2018 7.Brand Finance Toys 25 February 2018 6.Definitions.Definitions. Brand Value+ Enterprise Value The value of the entire enterprise, made up of multiple branded businesses. Where a company has a purely mono- branded architecture, the enterprise value is the same as branded business value.+ Branded Business Value The value of a single branded business operating under the subject brand. A brand should be viewed in the context of the business in which it operates. Brand Finance always conducts a branded business valuation as part of any brand valuation. We evaluate the full brand value chain in order to understand the links between marketing investment, brand- tracking data, and stakeholder behaviour.+ Brand Contribution The overall uplift in shareholder value that the business derives from owning the brand rather than operating a generic brand.The brand values contained in our league tables are those of the potentially transferable brand assets only, making brand contribution a wider concept. An assessment of overall brand contribution to a business provides additional insights to help optimise performance.+ Brand Value The value of the trade mark and associated marketing IP within the branded business. Brand Finance helped to craft the internationally recognised standard on Brand Valuation ISO 10668. It defines brand as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.MattelBarbieBrand ValueBarbieBarbieEnterpriseValueBrandedBusinessValueBrandContributionBrand Strength IndexWidely recognised factors deployed by marketers to create brand loyalty and market share. Marketing Investment A brand that has high Marketing Investment but low Stakeholder Equity may be on a path to growth. This high investment is likely to lead to future performance in Stakeholder Equity which would in turn lead to better Business Performance in the future. However, high Marketing Investment over an extended period with little improvement in Stakeholder Equity would imply that the brand is unable to shape customers preference.Stakeholder Equity The same is true for Stakeholder Equity. If a company has high Stakeholder Equity, it is likely that Business Performance will improve in the future. However, if the brands poor Business Performance persists, it would suggest that the brand is inefficient compared to its competitors in transferring stakeholder sentiment to a volume or price premium.Business Performance Finally, if a brand has a strong Business Performance but scores poorly on Stakeholder Equity, it would imply that, in the future, the brands ability to drive value will diminish. However, if it is able to sustain these higher outputs, it shows that the brand is particularly efficient at creating value from sentiment compared to its competitors.MarketingInvestmentPerceptions of the brand among different stakeholder groups, with customers being the most important.Quantitative market and financial measures representing the success of the brand in achieving price and volume premium.StakeholderEquityBusinessPerformanceBrand StrengthBrand Strength is the efficacy of a brands performance on intangible measures, relative to its competitors. In order to determine the strength of a brand, we look at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding rating up to AAA+ in a format similar to a credit rating.Analysing the three brand strength measures helps inform managers of a brands potential for future success.InvestmentEquityPerformanceBrand Finance Toys 25 February 2018 9.Brand Finance Toys 25 February 2018 8.Executive Summary.Lego Stacks up to CompetitionLego remains the worlds most valuable and strongest toy brand, with a brand value of nearly US$7.6 billion, an exceptional Brand Strength Index (BSI) score of 90.6 and a corresponding brand rating of AAA+. Despite this position, Legos brand value slipped this year, down 0.3%. Whilst not substantial, it represents a wider challenge for the brand as revenue fell 6% in the first half of 2017 and net profit was down 3%. China is the brands biggest developing market, enjoying double-digit growth in the first half of 2017, but the more established markets have not been as fortunate. Since sales in Europe and the US account for approximately 75% of all revenue, to increase its brand value Lego must turn to untapped markets, especially in Asia, and make adjustments to remain relevant in the established ones. Lego recently formed a partnership with tech giant Tencent to develop licensed games, videos, and other content for Chinese children. This provides an opportunity for Lego to maximise growth in China by entering the digital space, which should positively impact its brand value in the future.Exceptional growth levels, like those enjoyed by Lego in recent years, are very difficult to sustain. However, building on the success of partnerships with franchises such as Star Wars and Batman, and on continued expansion in emerging markets, especially China where it enjoys double-digit growth, Lego still has substantial potential as a brand.David HaighCEO, Brand FinanceExecutive Summary.Bandai Namco Defends 2nd Place Bandai Namco remains the second most valuable toy brand this year, with a brand value of US$1.0 billion, up just 1%. Its slow growth coincides with a drastic decrease in brand value for the companys other brands in the table, as Yo-Kai Watch, Mobile Suit Gundam, and Power Rangers have fallen 25%, 26%, and 35%, respectively. The Japanese toy market has experienced falling sales in recent years due, in part, to a population decrease in the 0 to 14 age group. Despite these challenges, Bandai Namco has managed to keep its second position through a global diversification plan and new agreements. The company recently announced a strategic partnership with Dontnod Entertainment to facilitate the creation of a new IP game. based on a narrative adventure experience to take place in a fictional US city. This represents the next stage of Bandai Namcos diversification strategy, keeping a worldwide audience in mind, and likely benefitting its brand value and brand strength in the future.Brand Value Change 2017-2018 (%)Top 10 Most Valuable BrandsRank 2018: 1 2017: 1 BV 2018: $7,571m BV 2017: $7,597mBrand Rating: AAA+10%Rank 2018: 9 2017: 6 BV 2018: $243m BV 2017: $252mBrand Rating: AAA-9-4%Rank 2018: 10 2017: 7 BV 2018: $182m BV 2017: $247mBrand Rating: AA-10-26%Rank 2018: 7 2017: 8 BV 2018: $259m BV 2017: $232mBrand Rating: AAA-7+12%Rank 2018: 8 2017: 10 BV 2018: $252m BV 2017: $198mBrand Rating: AAA8+27%Rank 2018: 6 2017: 9 BV 2018: $272m BV 2017: $211mBrand Rating: AAA-6+29%Rank 2018: 2 2017: 2 BV 2018: $1,038m BV 2017: $1,024mBrand Rating: AA2+1%Rank 2018: 3 2017: 3 BV 2018: $812m BV 2017: $773mBrand Rating: AAA3+5%Rank 2018: 4 2017: 4 BV 2018: $414m BV 2017: $388mBrand Rating: AAA-4+7%Rank 2018: 5 2017: 5 BV 2018: $368m BV 2017: $297mBrand Rating: AAA5+24%HasbroMy Little PonyNerfMonopolyMagic: The GatheringPlay-DohTransformersHot Wheels-3%-4%-24%-25%-26%-27%-28%-35%29%27%24%24%22%16%14%12%American GirlMattelMonster HighYo-Kai WatchMobile Suit GundamMasked RiderTomy CompanyPower RangersBrand Finance Toys 25 February 2018 11.Brand Finance Toys 25 February 2018 10.Executive Summary.Brand Value Over TimeBrand Value by Country Executive Summary.Top 5 Strongest BrandsMy Little Pony Gallops to Success Owing to the success of its portfolio of brands in the table, including My Little Pony, Nerf, and Monopoly, Hasbro is the fastest-growing toy brand, with brand value increasing 29% to US$272 million. Although Mattels portfolio of brands in the table have a higher value than Hasbros, Mattel dropped from sixth to ninth, swapping places with Hasbro, with a 4% decline in brand value to US$243 million.My Little Pony, Hasbros best-performing brand, galloped up the ranks growing 27% in brand value to US$252 million. It is the second strongest toy brand in the table, with a BSI score of 87.9 and a brand rating of AAA. The brand has transformed itself, bringing its traditional dolls into the entertainment world and reaching its audience through different channels. Placing the brand on the big-screen is a step in the right direction and
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